$1,895,000
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154 Elm Avenue Long Beach, CA 90802
Mixed Use
Residence
Beds
Baths
7,500
Sq. Ft.
0.09
Acre
Lot
Property Activity
Time on Site
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Prime Mixed-Use Investment Opportunity in Downtown Long Beach
Located in the vibrant East Village of Downtown Long Beach, this mixed-use building offers an exceptional investment opportunity. Situated on Elm & Broadway, just two blocks from the Long Beach Convention Center and steps from the bust...ling Pine Avenue with its restaurants and nightlife, this property is in the heart of a high-demand area with significant potential.
The building consists of four commercial business tenants on the ground floor, generating reliable income, along with 11 rented residential units above—10 studios and 1 one-bedroom—currently on month-to-month leases. Note: 10 of the residential units do not have private bathrooms 2 are shared upstairs. With a solid CAP rate over 6%, this property offers a strong return on investment. All units are due for increases as soon as the new owner decides. The units above have a motel designation, offering future flexibility for potential conversion.
This property is professionally managed, ensuring ease of ownership and maintenance. For buyers interested in converting the units to a motel or renovating, new management services will be available to facilitate a smooth transition and maximize the property’s potential with rent increases and renovation.
The building itself is a beautiful brick structure, adding to the character of the East Village while providing a robust and low-maintenance asset for the investor.
This is an excellent opportunity to acquire a mixed-use property in one of Long Beach’s most vibrant areas. Buyer to verify all details, including the motel designation with city permitting and financials.
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MLS#
NP24250696
Property Type
Mixed Use
Status
Year Built
1921
Square Feet
7,500
sq. ft
Lot Size
0.09
Sewer
Public Sewer
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